... during the winter diesel season. Rodionov points out that due to low competition, oil companies have little incentive to lower prices. The only things that act as a restraint are the regulator's "scolding" (in the form of export bans) and the ... ... However, one might argue that the refining and retail margins are sometimes zero or even negative. This is due to both the rising global oil and oil product prices and the high tax burden on the oil industry. With zero or negative margins, no amount of competition ...

... prices. Despite ongoing sanction risks, market uncertainty has decreased – a more accommodative central bank policy and a stable ruble create conditions for economic revival in the second half of the year. Commodity Markets: Oil Balance and Gold Surge Oil is trading in a narrow range: Brent is holding around $68–69, slightly below early July levels. On one hand, expectations of a global economic slowdown and weak data from the U.S. and China are limiting crude demand. Some analysts foresee prices dropping to $60 by year-end. On the other hand, OPEC+ participants continue to cut production, preventing oversupply: Saudi Arabia has extended voluntary production cuts of 1 million barrels per day (August), and Russia is limiting exports by 500,...

... inventories. Changes in inventory levels can influence oil prices, an important factor for energy investors. Impact on Markets: Lower inventories may boost oil prices, benefiting energy stocks, while higher inventories could place downward pressure on prices. Given the global significance of oil, these data can also indirectly influence other energy-dependent markets. Investor Recommendations: Investors in the energy sector should track API data to anticipate potential price movements. In addition, those with holdings in oil-exporting economies ...

... flight to safety could negatively impact it. Russian Stock Market: Outlook The Moscow Exchange Index is holding near local highs, demonstrating resilience due to high commodity prices and strong earnings reports from several companies. External signals (oil price dynamics, global market sentiments) and internal factors (financial results from Russian issuers for the first half of the year) will determine market movement on Tuesday. With a stable external backdrop, there are chances for continued gradual growth; however,...

... and their impact on companies actively involved in the Chinese market. By monitoring sales volumes and market dynamics, more informed investment decisions can be made. By utilizing platforms such as Open Oil Market, Russian enterprises can navigate global changes in consumption and oil prices, assisting them in adapting to fluctuations on the international stage.